Richard Lee- Unsuitable Recommendations

California stockbroker fraud attorneyRichard Lee Allegedly Made Unsuitable Recommendations of an Active Trading Investment Strategy to His Customers

Richard Lee, who has been associated with CISC since July 9, 2013, allegedly made unsuitable recommendations for an active trading investment strategy, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

FINRA further alleges that for about four and a half years CISC, through registered reps and principals, allegedly put growth before compliance, profits before customers, and purportedly lacked in transparency, the Complaint reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Richard Lee’s alleged unsuitable recommendations.

Richard Lee Barred by FINRA; No Monetary Sanctions have been Imposed on Lee Due to His Alleged Inability to Pay

Richard Lee allegedly made an unsuitable recommendation of an active trading investment strategy to his customer, and therefore violated FINRA Rules, according to a Complaint from FINRA’s Department of Enforcement presently under review by attorneys Alan Rosca and James Booker.

Hence, Lee has been suspended by FINRA for 18 months in all capacities from associating with any FINRA member firm and must by examination before re-entering the securities industry in any capacity, FINRA notes.

Finally, as Lee has reportedly submitted a sworn financial statement and demonstrated an inability to pay, and regarding the news of his financial status, FINRA allegedly has imposed no monetary sanctions, FINRA reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of unsuitable recommendations and are currently investigating Richard Lee’s unsuitable recommendations for an active trading investment strategy. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of unsuitable recommendations for an active trading investment strategy may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.